media releases

VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 5, 2018--
lululemon athletica inc. (NASDAQ:LULU), the healthy lifestyle inspired
athletic apparel company, today announced that Laurent Potdevin has
resigned as CEO and as a member of the company’s Board of Directors,
effective immediately. lululemon expects all employees to exemplify the
highest levels of integrity and respect for one another, and Mr.
Potdevin fell short of these standards of conduct. The Board of
Directors has immediately begun a search process for a proven and
highly-experienced global Chief Executive Officer.

“While this was a difficult and considered decision, the Board thanks
Laurent for his work in strengthening the company and positioning it for
the future,” said Glenn Murphy, Executive Chairman of the Board.
“Culture is at the core of lululemon, and it is the responsibility of
leaders to set the right tone in our organization. Protecting the
organization’s culture is one of the Board’s most important duties.”

In his newly expanded role as Executive Chairman, Mr. Murphy will focus
on achieving long-term, sustainable results for all stakeholders. Three
of lululemon’s senior leaders are being elevated and will take on
additional responsibilities, reporting to Mr. Murphy: Celeste Burgoyne,
Executive Vice President, Americas, will oversee all channel and
brand-facing aspects of the global business, including stores and
e-commerce, as well as brand marketing; Stuart Haselden, Chief Operating
Officer, will have responsibility for all operations related to finance,
supply chain, people, and technology; and Sun Choe, Senior Vice
President of Merchandising, will guide all aspects of product
development, design, innovation, and merchandising.

Mr. Murphy added, “The Board is entirely confident that Celeste, Stuart
and Sun – three leaders deeply tied to the recent momentum in the
business – can continue to execute on lululemon’s growth strategy and
drive global performance. Based upon their contributions to the recent
expansion of the business, their history of collaboration with one
another and their strong support across the lululemon organization, we
believe this trio of leaders will take lululemon from strength to
strength.”

Today, lululemon also reaffirmed its updated guidance provided on
January 8, 2018, that reflects the ongoing momentum of the business. In
addition, the company’s growth strategies remain on track to achieve $4
billion in revenue in 2020. The company’s continued success in the
market it created is rooted in its strong connection to its guests and
vertically integrated business model; embodiment of the active, mindful
lifestyle; and category-disrupting product innovation that blends
fashion and function.

Biographies

Glenn MurphyExecutive Chairman of the company, and Chairman
of the Board

Glenn Murphy has taken an active role in the strategic direction of the
company since joining the Board in 2017. He has more than 30 years of
success leading retail organizations to grow and succeed. He is the
founder and CEO of FIS
Holdings, a consumer-focused investment firm deploying a combination
of operating guidance and capital flexibility. From 2007 to 2014, Mr.
Murphy served as Chairman and CEO at Gap Inc. during a period of global
growth and improved financial performance. Previously, Mr. Murphy served
as Chairman and CEO of Shoppers Drug Mart Corporation and held senior
leadership roles at Loblaw Companies.

Celeste BurgoyneExecutive Vice President, Americas

Celeste Burgoyne, Executive Vice President, Americas, will continue to
oversee all channel and customer-facing aspects of the North American
business, including stores and e-commerce, and will now add oversight of
the company’s international regions, as well as brand marketing. Ms.
Burgoyne joined lululemon in 2006 to lead the U.S. expansion and has
since held a series of roles of expanding responsibility, including
Senior Vice President, Retail, North America where she was responsible
for overseeing all Canadian and U.S. retail. Celeste started her career
with Abercrombie & Fitch, where she held various leadership positions
during her 10 years with the company.

Stuart HaseldenChief Operating Officer and Chief Financial
Officer

Stuart Haselden, Chief Operating Officer, will continue to oversee all
operations related to finance, supply chain, legal and technology, and
will now add oversight of our strategic planning and people & culture
functions. Stuart joined lululemon as Chief Financial Officer in 2015.
Prior to joining lululemon, his career spans 15 years of executive
leadership at global apparel retailers, including Saks Incorporated and
J. Crew Group, Inc., where he most recently served as Chief Financial
Officer.

Sun ChoeSenior Vice President of Merchandising

Sun Choe, Senior Vice President of Merchandising, will continue to
oversee merchandising and will now add all aspects of product design,
innovation and development to her portfolio. She joined the company in
2016 as Chief Global Product Merchant with extensive experience in
senior leadership roles at well-known brands, including Madewell, West
Elm and Urban Outfitters.

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired
athletic apparel company for yoga, running, training, and most other
sweaty pursuits, with products that create transformational experiences
for people to live happy, healthy, fun lives. Setting the bar in
technical fabrics and functional designs, lululemon works with yogis and
athletes in local communities for continuous research and product
feedback. For more information, visit www.lululemon.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 that involve risks, uncertainties
and assumptions, such as statements regarding our future financial
condition or results of operations and our prospects and strategies for
future growth. In many cases, you can identify forward-looking
statements by terms such as "may," "will," "should," "expects," "plans,"
"anticipates," "outlook," "believes," "intends," "estimates,"
"predicts," "potential" or the negative of these terms or other
comparable terminology. These forward-looking statements also include
our guidance and outlook statements. These statements are based on
management's current expectations but they involve a number of risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements as a
result of risks and uncertainties, which include our ability to identify
and successfully attract a highly qualified successor to our Chief
Executive Officer and his or her future performance; the length of time
required to complete an executive search; and cooperation by key parties
during the Chief Executive Officer transition process; as well as other
risks and uncertainties including, without limitation: changes in tax
laws, such as U.S. tax reform enacted in December 2017, or unanticipated
tax liabilities; our ability to maintain the value and reputation of our
brand; the acceptability of our products to our guests; our highly
competitive market and increasing competition; our reliance on and
limited control over third-party suppliers to provide fabrics for and to
produce our products; an economic downturn or economic uncertainty in
our key markets; increasing product costs and decreasing selling prices;
our ability to anticipate consumer preferences and successfully develop
and introduce new, innovative and updated products; our ability to
accurately forecast guest demand for our products; our ability to
safeguard against security breaches with respect to our information
technology systems; any material disruption of our information systems;
our ability to have technology-based systems function effectively and
grow our e-commerce business globally; the fluctuating costs of raw
materials; our ability to expand internationally in light of our limited
operating experience and limited brand recognition in new international
markets; our ability to deliver our products to the market and to meet
guest expectations if we have problems with our distribution system;
imitation by our competitors; our ability to protect our intellectual
property rights; our ability to manage our growth and the increased
complexity of our business effectively; our ability to cancel store
leases if an existing or new store is not profitable; our ability to
source our merchandise profitably or at all if new trade restrictions
are imposed or existing trade restrictions become more burdensome;
increasing labor costs and other factors associated with the production
of our products in South and South East Asia; our ability to comply with
trade and other regulations; fluctuations in foreign currency exchange
rates; higher than anticipated costs and our ability to realize the
benefits associated with the restructuring of our ivivva business;
conflicting trademarks and the prevention of sale of certain products;
our exposure to various types of litigation; and other risks and
uncertainties set out in filings made from time to time with the United
States Securities and Exchange Commission and available at www.sec.gov,
including, without limitation, our most recent reports on Form 10-K and
Form 10-Q. You are urged to consider these factors carefully in
evaluating the forward-looking statements contained herein and are
cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these cautionary
statements. The forward-looking statements made herein speak only as of
the date of this press release and we undertake no obligation to
publicly update such forward-looking statements to reflect subsequent
events or circumstances, except as may be required by law.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding lululemon athletica inc (PR)'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.